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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 17
In Exhibit A-8, the self-correcting AD/AS model argument is that, if D 2 equals SRAS, competition
A) from unemployed workers causes an increase in nominal wages and a rightward shift in SRAS.
B) from unemployed workers causes a rightward shift in LRAS.
C) among firms for workers increases nominal wages and this causes a leftward shift in SRAS.
D) among consumers causes an increase in the CPI and a rightward shift in SRAS.
EXHIBIT A-8 Aggregate Demand and Supply Model
A) from unemployed workers causes an increase in nominal wages and a rightward shift in SRAS.
B) from unemployed workers causes a rightward shift in LRAS.
C) among firms for workers increases nominal wages and this causes a leftward shift in SRAS.
D) among consumers causes an increase in the CPI and a rightward shift in SRAS.
EXHIBIT A-8 Aggregate Demand and Supply Model
Explanation
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This is because, in the long run, the ag...
Economics for Today 9th Edition by Irvin Tucker
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